Fintech - Academic English UK

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                                                                 UK

                               Fintech

                             WWW.ACADEMIC-ENGLISHUK.COM

                  Instant Lessons
                                         EXAMPLE

 Copyright: These materials are photocopiable but please leave all logos and web
 addresses on handouts. Please don’t post these materials onto the web. Thank you

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Lesson Plan: Fintech EXAMPLE
Lessons: Introduction reading, listening, speaking (seminar) and writing.
Time: 1-1.5 hours + homework task
Level: *****[B1/ B2/C1].

Lesson Aim:
To focus on one key topic and develop a range of key academic skills based on this topic.

Introduction [5 minutes]
• Introduce the topic ‘Fintech’.
• Give out the Reading Text Worksheet and discuss the lead in questions.

Reading: Test-Type Questions [20-30 minutes + feedback]
• Students read the text. Check words & meanings with a dictionary.
• Answer the questions.
• Feedback: distribute or project ANSWERS.

Listening: Lecture & Test Questions [30-40 minutes + feedback]
Video: Available in paid download
MP3: Available in paid download
• Give out Listening: mini lecture worksheet.
• Students check key vocabulary.
Option 1
• Students look at the questions.
• Students listen & answer the questions.
• Give 2 minutes to tidy answers.
• Students listen again. Check answers & answer missed questions.
• Feedback: distribute or project ANSWERS.

Option 2 (harder)
• Students listen & take notes (use paper or the PPT slides in the Appendix)
• Students listen again & add to their notes.
• Students use their notes to answer the questions.
• Feedback: distribute or project ANSWERS.

Speaking: Seminar [10-15 minutes]
• Give out Speaking Worksheet
• Students revise content from the reading & lecture texts.
• Students hold a seminar discussion using the question prompts.
How to run a seminar: https://www.academic-englishuk.com/seminars

Writing: Summary [20 minutes + tutor feedback]
• This can be a homework task if limited time.
• Students use the two texts (reading and listening) to write a 150-word paragraph on ‘why
Fintech XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX society.
• Tutor to error correct & return - https://www.academic-englishuk.com/error-correction

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Reading Text Worksheet
Task 1: Lead in.
1. What does FinTech mean?
2. Do XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX? Which ones?
3. Look at the title of the reading text – what do you think it is about?

Task 2: Reading text Fintech: how technology is changing financial services
By A. Watson (2021)
The digital revolution is changing the world of finance. In the last decade, Fintech which is defined as
“the group of XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX and automate the use and delivery of
financial services” (Finance online, nd) has become one of the most important aspects of finance.
Fintech is changing how people save, XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX transactions
easier and simpler without the need for a traditional bank (ibid), and as banks operate in ways that
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX the 2 billion people across the world who do not
have a bank account by making financial services XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

Fintech XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX and businesses efficiently manage their
financial transactions. As described by Sraders (2020), payment gateways such as PayPal, Stripe,
SecurePay and XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX for their goods and services online.
The gateway encrypts customers’ data, and works with the bank to determine if the payment is
legitimate. Digital wallets such as Apple Pay, XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX that
securely store credit and debit cards so that the user can make payments wherever and whenever
they XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX store personal information and biometric
technologies like fingerprint and retina scans to guard against credit card and identity theft. With the
global banking sector worth trillions of dollars XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX part
of the fintech industry with most banks offering their customers digital access, especially since the rise
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX work completely on a digital infrastructure, and
as they excel in security features they are less XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

Although these services offer more convenience for the XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX (2020) is that fintech can contribute to global
inequity. This is because it relies on broadband, internet XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX considerable number of the world’s population have
no broadband access or cannot afford to buy a smart phone or pay for internet access, these people
will lose out on the economic XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX may lose their job as
the need for human labour is diminishing in favour of automation. In fact, 47% of employees in this
sector XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX (Dautovic, 2020).

References
Butler, S. 2020. XXXXXXXXXXXXXXXXXXXXXXXXXXX. [online] Available at https://www.technadu.com/pros-
and-cons-of-fintech/ [Assessed 4 March 2021].
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX – The robots are coming. [online] Available at
https://fortunly.com/statistics/automation-job-loss-PDF [Assessed 4 March 2021].
Finance Online. ND. What is Fintech? Examples of Types, Products & Regulations. [online] Available at
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX [Assessed 4 March 2021].
Sraders, A. 2020. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX. [online] Available at
https://www.thestreet.com/technology/what-is-fintech-148 [Assessed March 4 2021].

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Reading Text Questions
Task 3: Headings
Choose a subheading for each paragraph. One title is not needed.
1 A Key players.
2 B XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
3 C How payment gateways first started.
D XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
____ / 3

Task 4: True false or not given
Decide if these statements are true (T), false (F) or not given (NG). Highlight the answer in the text.
T / F / NG
1 Fintech is changing how people save, borrow and spend money.
2 Not XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
3 PayPal is a unsecure way to purchase products from the internet.
4 Tokenisation XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
5 Biometric XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
6 Neobanks have better physical branches than traditional banks.
7 People XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX services.
8 Automation will replace all fintech jobs in the future.
____ / 8

Task 5: Vocabulary
Key language – search for the word in the text that means:
Paragraph word
1 The activity of buying or selling something.
1 XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
2 To avoid being harmed by risk, danger or threat.
2 XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
2 Wanting to avoid risks as much as possible.
3 XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
3 To reduce in size or importance.
____ / 7

Total Score ___ /18

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Listening: Mini Lecture Worksheet
Task 1: Key vocabulary
Check these words and phrases before listening:
advancements. XXXXXXXXXXX. widen. virtual. transactions. XXXXXXXXXXX currencies. encryption.
peer-to-peer lending. merchants. XXXXXXXXXXX fraud. legitimate. differentiate. XXXXXXXXXXX
XXXXXXXXXXX. infrastructure. decrypting. XXXXXXXXXXX. fraudulent. features.

Task 2: Lecture Listening
Listen to the lecture on Fintech and answer the following questions:

2.1 Gap Fill
i) What is Fintech? Complete the gaps. The first letter is already given.
Fintech is the application of new T_______________ XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX in
the finance F____________ XXXXXXXXXXX
____ / 2
2.2 Name one of the three main Fintech activities.

____ / 1
2.3 Open Questions
Answer these questions about PayPal?
i. When was PayPal founded?
ii. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
iii. How many countries is it available in?
iv. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
v. How long can PayPal hold payments for?
____ / 5
2.4 Multiple choice
Answer these questions about Stripe. Select one answer only per question.
i. Stripe’s revenue was… A. 415 million in 2019
B. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
C. 450 million 2009
ii. US XXXXXXXXXXXXXXXXXXXXXXX for… A. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
B. 88% of all transactions
C. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
iii. XXXXXXXXXXXXXXXXXXXXXX decrypting A. The same hosting environment
and transmitting card numbers runs in.. B. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
C. The same and separate hosting environments
iv. Radar protects users against… A. Frozen accounts
B. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
C. Fraud
____ / 4
2.4 Gap Fill
i) Which one does the lecturer say is better? Complete the gaps.
____________ is a little XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX so many additional features, but
XXXXXXXXXXXXXXXX which have in-house developers, ______________ has XXXXXXXXXXXXX.
____ / 2
Total Score ___ /14

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                                   Speaking Worksheet
Discussion speaking
Use the two texts (reading and listening) to discuss these questions.

Key sources:
 Reading: Watson (2021)                             Lecture: Watts (2021)
 Butler (2020); XXXXXXXXXXXXXX Finance Online
 (nd); Sraders (2020).

Seminar Questions

1) What is Fintech?

2) What XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX used?

3) Discuss the similarities between the two texts.

4) What XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX Fintech?

5) Summarise your discussion
(each person summarises one main interesting point discussed)

__________________________________________________________________________________

                                             Writing
Write a summary
Use the two texts (reading and listening) to write a paragraph on ‘why XXXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXX society’.

 Write the 150 words:

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Reading ANSWERS
Task 3: Headings
Choose a subheading for each paragraph. One title is not needed.
1 B A Key players.
2 A B Changes happening in the world of finance.

____ / 3

ALL ANSWERS ARE INCLUDED IN PAID VERSION…

Listening ANSWERS
2.1 Gap Fill
i) What is Fintech? Complete the gaps. The first letter is already given.

Fintech is the application of new technological advancements to products and services in the
finance industry.
____ / 2

ALL ANSWERS ARE INCLUDED IN PAID VERSION…

FINTECH: Payment systems
(S. Williams 2021)
Hello and welcome to this short lecture on Fintech. A portmanteau of finance and technology, Fintech
is the application of new technological advancements to products and services in the finance industry.
Each financial sector uses technology to reduce costs, simplify processes and widen the market for their
services, and the internet is used as a virtual storefront. Fintech describes a variety…..

THE FULL TRANSCRIPT IS INCLUDED IN THE PAID VERSION…

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                               Appendix: PowerPoint Slides
                       Listen to the lecture and take notes using the PPT slides

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